Making Money With Private Number Plates
It is no longer used by the rich or famous, but anyone and the reason being is the way private number plates give the owners car a distinctive and unique mark. A nominee name is a name that appears in the V5 logbook for the vehicle the number will be assigned to.
another thing about buying number plates is that they can be held indefinitely on certificates but must be renewed annually at a certain fee.You should also know that having a new number plate assigned to your vehicle is not simple and full instructions will be found on the reverse of you registrations certificate of entitlement that you should follow. An updated V5 log book will be sent later from DVLA, and all that would be left is to have your acrylic number plates produced.
And once the number is given or assigned to a vehicle the rights to that registration number then fall to the registered keeper of the vehicle. One you can transfer the number plate to another vehicle that you own, and secondly, you can transfer the registration number onto a V778 Certificate of Entitlement.
Holding a car registration on a Certificate of Entitlement means that you can retain the rights to the registration number without it being assigned to a vehicle. The new registered keeper will then have full entitlement to the number plate; alternatively, if you are holding the number plate on retention, you can sell the certificate to a willing buyer. To add a nominee name to a retention certificate, the owner must sign Section 1 and provide the nominee name then the certificate must then be sent to the DVLA with a payment.
An essential thing you need to know is that the safest way to sell private number plates is through a reputable plate dealer otherwise it can be risky for both the buyer and seller. Investors are always looking for a new and exciting way to diversify their portfolio, and many are taking a break from stocks and focusing their attention on registration numbers.
If they can buy them at the right prices, then these registrations can get them massive returns on investment when sold to buyers looking for unique and perfect plates. When purchasing a number plate for an investment look for a registration that will be easy to sell on again and also try choosing a number plate with common or popular initials or that reads a name or word.
There are many places to find cheap number plates, some people buy a car which already has a personal plate on it and If the registration bears no significance to the new owner then they sell the plate for a low price. All the private number plates in the auction are previously unreleased meaning that potential buyers are paying wholesale prices for the registrations which are cheap.
The valuations take into account several factors including similar marks on the market, previous selling prices and popularity of the name or initials on the number plate that in the end determine the profit of the sale.